CYPRUS

Cyprus Residency by Investment Program

In the heart of the Mediterranean lies Cyprus, financial and commercial centre of Europe, offering world class health-care and education system.

WHY CYPRUS?

Strategic location in the Mediterranean Sea

Permanent residency is granted

Express procedure (permit within 2 months)

Approved by the Cyprus Government

After 60 days tax residency can be obtained

Dependent children (up to 25) can apply

Only one visit is necessary for the permit.

MAIN CONDITIONS

Third country nationals (non-EU citizens) can apply for the Cypriot residence permit under the Regulation 5 of the Aliens and Immigration Regulations. The following qualifications are required for the application:

Clean criminal record

Purchase a property

Confirmation letter from a local bank

Evidence of annual income

Capturing biometric data from all applicants

The successful applicants must acquire the Cypriot residence within one year from the approval if the resident does not live in the country. The Ministry of Interior may revoke the residence permit if the resident does not visit Cyprus for two years.

PROPERTY PURCHASE

In line with the aim of attracting investments from abroad, the main requirement to applying for permanent residency is to acquire new residential property of a minimum value of €300,000 (plus taxes).

FAMILY MEMBERS

Permanent residency can be granted to the following family members:

Main applicant and spose

Children up to 17 years old

The main applicants’ and/or spouse’s parents

Adult children of the PRP applicant between 18 and 24 years old (provided they are students)

Married children of the main applicant between the age 18 and 24 year TAX ADVANTAGES As from January 2017 the newly enacted non-domiciled tax system offers a zero-tax rate on dividends, capital gains and interest.

LGBT rights

Although same-sex marriage is not yet permitted in Cyprus, civil unions by same-sex couples are accepted.

NEWSLETTER

Always get the news and information about the trends in immigration, tax planning and private life planning.